European stocks rise near 4-year peak on renewed trade deal hopes

European stocks opened higher on Friday, to head for the first daily gain in 4 days and near a 4-year high, amid improved risk appetite after hopes were renewed about the US and China signing of the first phase of the trade deal.

Stoxx Europe 600 rose by 0.7% as of 08:42 GMT, as it closed lower by 0.4% yesterday, its third straight daily loss on profit taking, in addition to conflicting news about US-China trade talks.

The index opened today's session higher, to head for its first daily gain in 4 days, near the 4-year high it hit earlier in the week, with most of the major European exchanges and sectors in the positive territory today.

The mining and basic resources sector saw the largest gains in Europe today, as it rose more than 1.2%, after positive news about the trade talks.

The Wall Street Journal on Thursday reported that the Chinese Vice Premier Liu He invited the US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to continue the trade talks this in Beijing.

The Chinese Ministry of Commerce also said that it strives to reach a interim agreement with the US to end the long-running trade war between the two countries.

S&P 500 futures rose by 0.3% today, while it closed lower by 0.2% yesterday, to mark its third straight daily loss, on profit taking from its all-time high of 3,127.64 points.

Back to Europe, the Euro Stoxx 50 index rose by 0.7%, the German DAX rose by 0.8%, France's CAC 40 gained 0.75%, and in London, the FTSE 100 surged more than 1.0%.